For most of the last five centuries, Mexico has been the world’s largest silver producer much of it coming from the country’s vast, mineral-rich rock stretching from Sonora to Oaxaca, principally in the Sierra Madre mountain range.
Today Silvermex Resources (SMR-V) hopes to tap into those historic silver veins at its San Marcial property in the Sierra Madre mountains, 90 km east of Mazatlan.
The property is 12 km south of the La Rastra mining district, which has been known as a significant area for silver, gold, lead and zinc production from as early as the 1600s, Silvermex says.
San Marcial contains silver mineralization and associated lead and zinc hosted in at least two semi-parallel vein systems and within the surrounding hydrothermal breccias that envelop the higher grade silver veins.
San Marcial has an inferred resource of 2.31 million tonnes grading 191.79 grams per tonne silver, 0.32% lead, and 0.66% zinc and containing 14.26 million ounces of silver.
But further exploration is needed to determine whether or not the existing inferred mineral resource can be upgraded and expanded, Silvermex writes in a technical report released on Dec. 21.
The mineralized zone is about 400 metres and open in all directions. In addition to the semi-parallel vein systems, there are about 15 other targets on the property that will require an exploration program to prioritize targets.
San Marcial belongs to the low-sulphidation, epithermal class of deposits. These deposits form in predominantly felsic to intermediate subaerial volcanic complexes in extensional strike-slip structural regimes.
Silver is primarily found in silicified and hematized breccias, and to a lesser extent quartz veins, micro fractures and cavity fills, the technical report found. The veins are confined to the intermediate volcanic tuffs of the lower volcanic group.
Silvermex’s shares on the TSX Venture Exchange climbed 5 to close at $1.05 on a trading volume of 38,900.
Be the first to comment on "Silvermex Resources updates San Marcial silver property"